Bank of America Cuts C.H. Robinson Worldwide (NASDAQ:CHRW) Price Target to $119.00

C.H. Robinson Worldwide (NASDAQ:CHRW) had its price target lowered by Bank of America from $122.00 to $119.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

A number of other analysts have also commented on the stock. Truist Financial assumed coverage on shares of C.H. Robinson Worldwide in a research report on Thursday, March 13th. They issued a “buy” rating and a $115.00 price objective on the stock. Wells Fargo & Company decreased their price objective on C.H. Robinson Worldwide from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com lowered C.H. Robinson Worldwide from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Raymond James decreased their price target on C.H. Robinson Worldwide from $123.00 to $118.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, Susquehanna dropped their price objective on C.H. Robinson Worldwide from $127.00 to $117.00 and set a “positive” rating on the stock in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.89.

C.H. Robinson Worldwide Price Performance

Shares of NASDAQ CHRW opened at $101.13 on Friday. The company has a fifty day moving average price of $100.58 and a 200 day moving average price of $104.43. The firm has a market cap of $11.96 billion, a PE ratio of 26.27, a PEG ratio of 1.16 and a beta of 0.83. The company has a current ratio of 1.28, a quick ratio of 1.49 and a debt-to-equity ratio of 0.54. C.H. Robinson Worldwide has a 1-year low of $65.00 and a 1-year high of $114.82.

C.H. Robinson Worldwide (NASDAQ:CHRW) last posted its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.11. C.H. Robinson Worldwide had a return on equity of 34.53% and a net margin of 2.63%. Research analysts predict that C.H. Robinson Worldwide will post 4.83 earnings per share for the current fiscal year.

C.H. Robinson Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.45%. C.H. Robinson Worldwide’s dividend payout ratio (DPR) is currently 64.42%.

Insider Buying and Selling

In other news, insider Angela K. Freeman sold 8,000 shares of C.H. Robinson Worldwide stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $100.39, for a total value of $803,120.00. Following the completion of the sale, the insider now directly owns 77,027 shares in the company, valued at approximately $7,732,740.53. The trade was a 9.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael D. Castagnetto sold 5,016 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.60, for a total value of $499,593.60. Following the sale, the insider now directly owns 34,586 shares in the company, valued at $3,444,765.60. This represents a 12.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,048 shares of company stock valued at $1,513,656. Insiders own 1.47% of the company’s stock.

Hedge Funds Weigh In On C.H. Robinson Worldwide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Pension Service bought a new position in shares of C.H. Robinson Worldwide in the fourth quarter worth $25,000. Quarry LP increased its holdings in C.H. Robinson Worldwide by 76.7% in the 3rd quarter. Quarry LP now owns 394 shares of the transportation company’s stock valued at $43,000 after buying an additional 171 shares during the period. Missouri Trust & Investment Co acquired a new position in shares of C.H. Robinson Worldwide in the 4th quarter valued at approximately $41,000. Mainstream Capital Management LLC bought a new stake in shares of C.H. Robinson Worldwide during the 4th quarter worth approximately $41,000. Finally, Brooklyn Investment Group boosted its position in shares of C.H. Robinson Worldwide by 213.5% during the 4th quarter. Brooklyn Investment Group now owns 464 shares of the transportation company’s stock worth $48,000 after acquiring an additional 316 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

C.H. Robinson Worldwide Company Profile

C.H. Robinson Worldwide, Inc, together with its subsidiaries, provides freight transportation services, and related logistics and supply chain services in the United States and internationally. It operates through two segments: North American Surface Transportation and Global Forwarding. The company offers transportation and logistics services, such as truckload, less than truckload transportation brokerage services, which include the shipment of single or multiple pallets of freight; intermodal transportation that comprises the shipment service of freight in containers or trailers by a combination of truck and rail; and non-vessel operating common carrier and freight forwarding services, as well as organizes air shipments and provides door-to-door services.